Wednesday, 19th December 2007 (1890 views)

Hidefield has announced that the initial drilling results for the Don Nicolas gold project in Santa Cruz Province, Argentina, have confirmed the economic viability of the development.

The preliminary conclusions of the scoping study report are based on assay results from the first three core holes of the ongoing Phase III drilling programme at the Don Nicolas project, which commenced in late October 2007.

Latest drilling results have extended the gold mineralisation in the South oreshoot at Sulfuro by a further 25m south of earlier drilling and confirm the economic viability of the development of a mine on the Sulfuro deposit, which contains an estimated 195,500 ounces of gold at a grade of 8.33 gpt gold.

According to the gold company, which has advanced projects in Argentina, Brazil and Alaska, "management is very satisfied with positive outcome of the Don Nicolas scoping study", which provides a sound basis for the ongoing evaluation of the viability of the project.

Kenneth Judge, Hidefield chairman, commented: "We are pleased that the preliminary conclusions of the scoping study have confirmed the parameters for the initial design of an economically viable mine on this property and this report will provide valuable information for our future mine development planning."

Hidefield, listed on the Alternative Investment Market of the London Stock Exchange (LSE), acquires and develops highly prospective mineral projects in North and South America.

 

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